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2014 (1) TMI 132 - HC - Income TaxUnexplained cash credit in form of corpus donation - Held that:- The AO carried out enquiries to satisfy himself about the identities and creditworthiness of the donors and the genuineness of the transactions - The letters were sent to a number of donors, out of which 11 letters came back to him unserved - From 12 persons, incomplete replies were received without copies of the donation receipts which was called for - All the 12 letters were sent by one person - The AO found that the donors had meager incomes, not enough to enable them to make the donations of amounts claimed by the appellant - No PAN etc. were there in respect of most of the donors - One donor assessed to tax denied to have made any donation - During remand proceedings, four donation receipt books were produced which were newly bound and freshly written - The assessee has failed to establish the genuineness of the transactions and the creditworthiness of the donors - Decided against assessee.
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